Roni, I consolidated all of my student loans. The that was with Sallie Mae that I consolidated does not show up as a positive. I was never late. It does show a Zero balance. After your accounts were zero balance did they still appear as negatives?
RE: For Roni-About Sutdent Loa I wonder if it is ok for the original lender to report the defaulted loan as a paid collection and for the guarenty agency to report it as a collection. In that case, the student would have two collection accounts for one loan. I would appreciate anyone's thoughts on the matter.
RE: For Roni-About Sutdent Loa Does rehabilitation remove the default notation from the credit reports for both the original lender and the guarenty agency or just one of them?
RE: For Roni-About Sutdent Loa The thing is I never defaulted or paid late. I just consolidated the Loans. The Dept of Ed. is a lot easier to deal with than Sallie Mae.
RE: For Roni-About Sutdent Loa It is not fair, but that is the way it is done. The original lender and the guarantor reports for student loans. I questioned the FTC about this and they said "uh, uh, well student loans are different and you'd have to contact the dept of ed about that". Oh brother. Student borrowers are screwed no matter what. So to answer you questions they can. Experian and the other big 2 will tell you that anyone reading your report will know that it is not actually 2 accounts.
RE: For Roni-About Sutdent Loa There should be no negatives on your report if you consolidated. If you see collections on your report you should dispute it immediately. That was simple.
excuse me That is if you did not actually default. Make sure about that ok. You may have to tell the original lender that they are reporting it wrong and get it corrected.
Well...what do I do then? I don't know what the deal is then..... I have 3 accounts with State Student Aid. I consolidated them to Unipac and they are now listed as Paid Charge Off & Paid Collection. Then under Unipac is says Account transferred or sold (I1 status, never late) and now it's reporting under Sallie Mae. How the f*&% do I get the State Student Aid stuff off? I disputed it already and and it came back and was updated to report as Paid Charge Off/Paid Collection (from a Paid Collection only!). Frustrating... I guess I need to re-dispute and get the name of who they specifically verified this with? Say that the student loan was bought by Unipac long before charge off/collection status?????
RE: excuse me Roni, the loans went into default and I am paying on them through rehabilitation. I just dont understand why both the original lender and the guarenty agency both report the loans as collections. I would not have a problem if the original lender reported it as paid. As it stands now, it look like that I have a total of 10 collection accounts, 5 paid and 5 unpaid.
RE: excuse me I responded to your post at quality credit repair and did not realize it was the same poster. Anyway, that is how it is posted. I am upset about it but that is the way it is done. When I called the FTC about it they said that student loans are just handled different and told me to ask the dept of ed. The dept of ed told me it was fair and to take it up with the credit bureau. The credit bureau, says that anyone who reads credit reports knows that it is the same account. What a bunch of bull. But that is the way it is.
